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Statement re Sale Of Assets

Wed, 27th Dec 2017 14:19

RNS Number : 3817A
Trader Media East Ltd
27 December 2017

SALE OF ASSETS

Amsterdam, The Netherlands - December 27, 2017

We hereby announce that our indirect Russian subsidiary Pronto Media Holding (PMH) has signed an agreement with HeadHunter to sell the assets of its online resource "job.ru", including the domain name and the trademarks.

As announced previously, the Group had been working on a number of options, inter alia the sale of its brands/assets wholly or partially. The decision regarding the cessation of digital operations of PMH gave the Group the opportunity to develop negotiations with respective parties to deliver improved results on PMH's assets to realize the full benefits of this transitional stage.

We expect the deal to be closed on the second week of January, 2018 and the Group expects to use the net proceeds from the transaction to improve the liquidity and repay existing indebtedness of PMH.

Job.ru is one of the oldest market places in the Russian Federation for recruitment and now with this acquisition taking place, all necessary efforts shall be made to the satisfaction of all job applicants and employers using job.ru until the transition to HeadHunter is completed. In this regard via the online portal job.ru, its customers are being notified and offered the opportunity to join HeadHunter.

By way of this and our previous press statements, we note that the transition period of PMH is still ongoing with the involvement of potential investors for the remaining assets. Any subsequent development in this regard shall be disclosed to public, immediately.

A copy of this announcement will be made available on the Regulatory News segment of the London Stock Exchange.

Forward-Looking Statements

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of Trader Media East or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements. Those factors include, but are not limited to, risks or uncertainties described in our publicly filed documents.

These forward-looking statements speak only as of the date of this document. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.

Investor Relations Contact Information

Mrs. Nihan Sena HERTAS

Investor Relations Manager

Tel. : +90 212 449 60 30

E-Mail : nshertas@hurriyet.com.tr

This information is provided by RNS
The company news service from the London Stock Exchange
END
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